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Although travel and entertainment expenses (T&E) are often a small component of overall corporate expenditures, they are one of the highest inherent risk areas for inappropriate costs and fraud. 

Expenditures can be a traveler's best friend but can also be management's worst nightmare if not properly handled. This process area inherently provides prime opportunity for unauthorized or inappropriate and lavish expenditures by executives and other personnel.  When this occurs, more than just dollars are at stake for the company.  Uncontrolled and unmanaged travel and entertainment expenditures can impact reputation, operations and compliance areas.

This course provides context by starting with common areas of T&E abuse and fraud. We then address where T&E fits in the control environment, COSO, and relevant T&E controls. We also highliight areas of abuse that go unnoticed and red flags. Finally we describe processes that can strengthen T&E monitoring and management. 

Why Should you Take this Course:

Regulators and legislation suggest annual review of executive expenditures.  However this can be a risk laden area for compliance professionals to review due to the internal political ramifications.  In today's world of transparency and increasing fraud, management must learn that attention, monitoring, and periodic review of travel and entertainment expenses is an important component of maintaining proper internal controls

Who can Benefit:

  • Professionals in the office of the CFO
  • CEO/CFO
  • Board Members
  • Internal Auditors
  • Compliance Professionals
  • Operational professionals
  • Finance Professionals

Learning Objectives

  • Recognize travel and entertainment (T&E) expenses as a component of the control environment
  • Identify relevant T&E controls
  • Identify areas of abuse that go unnoticed
  • Identify T&E red flags
  • Discover how to strengthen T&E processes
Last updated/reviewed: May 22, 2018

14 Reviews (75 ratings)Reviews

5
Anonymous Author
This was a great review of the T&E process and all the red flags that managers should monitor. The presentation was very organized and comprehensive.
5
Member's Profile
Very practical like all her courses. I have taken 6 of her courses, and all of them have been very useful.
4
Anonymous Author
The course is appropriate starting point for someone trying to support and design a new T&E policy.
4
Anonymous Author
Would like to see more information (i.e. examples of) on policies and procedures.
4
Anonymous Author
A lot of hints and information to get organize and detect possible fraud !
4
Anonymous Author
Great review about why polices are important and are needed.
4
Anonymous Author
Good overview of T&E process and potential pitfalls.
5
Member's Profile
Great recommendations for monitoring T&E expenses.
5
Member's Profile
"T&E abuse that goes unnoticed" was very useful.
Member's Profile
Some good basics about T&E.
3
Member's Profile
Course is a too basic.
5
Member's Profile
very helpful
5
Member's Profile
Good course
4
Anonymous Author
great

Prerequisites

Course Complexity: Intermediate

Prerequisite: Exposure to internal controls

 

Advanced Preparation: None

 

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
Travel and Entertainment Expenses (T & E)
  9:40T & E As a Component of Control Environment
  12:36T & E and COSO
Abuse and Fraud
  10:19Abuse That Goes Unnoticed
  12:06Other Abuses
  4:49Fraud Red Flags
CONCLUSION
  6:48Strategies for Managing T & E
Continuous Play
  1:01:11The CFO’s Dilemma Travel and Entertainment Expenses
SUPPORTING MATERIALS
  PDFSlides: Travel and Entertainment Expenses
  PDFTravel and Entertainment Expenses Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM